SpreadCoin is a new cryptocurrency which is more decentralized than Bitcoin.
It prevents centralization of hashing power in pools, which is one of the main concerns of Bitcoin security.
SpreadCoin was fairly launched on 29 July 2014, 9:00 UTC with no premine.

One of the first apps to be built into the wallet is the vanity generator (or vanity gen) which allows anyone to create personalised payment addresses.

The easy to use wallet lets you search through trillions of payment addresses allowing you to find one or multiple vanity addresses, which are then stored safely along with the private keys on your own computer - and nowhere else.

Searching using the vanity gen is probabilistic, so the amount of time required to find your chosen address patterns depends on how complex the pattern is, the speed of your computer, and a little bit of luck.

You can use the vanity gen for a bit of fun, to make your address standout from the crowd or to create a link to a brand, business or other organisation. You can even search for addresses that others might be willing to buy from you.

Additional advanced features (see whitepaper) that are unique to spreadcoin:

SPREADX11

SpreadX11 is different from plain X11 by introducing a sophisticated pool prevention mechanism.

With SpreadX11 every block header contains additional information (MinerSignature and hashWholeBlock).
With the help of this information the protocol ensures that the miner of a new block is always also the first one to know the content of the whole block and the private key to spend the coinbase transaction. (contrary to pool mining where the pool operator is the first one to know those things)

So when a miner finds a block, he must himself sign and transmit the block to the network (like solo mining), instead of having a pool handle this for him.

This effectively prevents pools by making their rules non-enforceable, since any miner in any assumed pool can always just steal the block reward instead of following the rules set up by the pool.

COMPACT TRANSACTIONS

SpreadCoin uses a more compact representation for signatures in transactions.

SpreadCoin as well as Bitcoin uses ECDSA signatures. While bitcoin keeps a copy of the public key of the corresponding signature around, SpreadCoin ommits this by recovering the public key on the fly directly from the signature.
This way it is not necessary to keep the public key of every ECDSA signature in the blockchain, so this leads to *smaller transactions and hence a smaller blockchain (at the cost of a few CPU cycles more).

(*reduction in size of transaction from 139 or 107 bytes in Bitcoin to 67 bytes in SpreadCoin.)

SMOOTH HALVING

Unlike Bitcoin, there are no abrupt reward halvings in SpreadCoin. Block reward is smoothly decreasing over time.

NO YEAR 2106 PROBLEM

The time stamp field in the block header is now 64 bit instead of 32 bit (Bitcoin) so that much farther date times are possible (>Year 2106)

Upcoming features that are in development and will be introduced over the next weeks and months:

SERVICENODES

A servicenode is a node which runs continuously (24/7) on a server and which provides services within the spreadcoin network.

You have to pay a collateral to be able to install a servernode (in return your servicenode will earn a steady income).

This collateral is determined by a free market price discovery.

(No fix collateral. The price is allowed to fluctuate over time.)

COMPETITIVE COLLATERAL

Furthermore, to introduce a competitive nature to the servicenodes there will only ever be a limited number of allowed servicenodes worldwide.

Since the collateral isn't set in stone, but the amount of servicenodes is fixed, the price of a servicenode will be determined by the participants themselves.

It is expected that the price will vary widely over time, which exposes it to the same market forces that hashrate and currency value are exposed to too.

SERVICE APPS

There are a number of decentralized applications that will run on servicenodes.

Most likely those apps will include:

1) "Spread the message"(an in-wallet encrypted messaging system, which allows you to send a message to an SPR address)